Brokerages Set Southwest Airlines Co. (NYSE:LUV) PT at $38.59

Shares of Southwest Airlines Co. (NYSE:LUV) have earned an average recommendation of “Hold” from the twenty-one brokerages that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $38.9444.

A number of equities analysts recently commented on LUV shares. BMO Capital Markets started coverage on Southwest Airlines in a report on Tuesday, December 9th. They set a “market perform” rating and a $43.00 price target for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Southwest Airlines in a research note on Monday. Jefferies Financial Group increased their price target on Southwest Airlines from $33.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday, December 2nd. Citigroup assumed coverage on shares of Southwest Airlines in a research report on Thursday, December 4th. They set a “neutral” rating and a $38.00 price objective for the company. Finally, Susquehanna upped their price objective on shares of Southwest Airlines from $30.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, October 3rd.

Hedge Funds Weigh In On Southwest Airlines

Several institutional investors and hedge funds have recently made changes to their positions in LUV. Elevation Point Wealth Partners LLC acquired a new stake in Southwest Airlines during the 2nd quarter worth approximately $25,000. Quent Capital LLC acquired a new stake in shares of Southwest Airlines during the third quarter worth $27,000. Corsicana & Co. acquired a new stake in shares of Southwest Airlines during the third quarter worth $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Southwest Airlines in the second quarter valued at about $31,000. Finally, Hantz Financial Services Inc. grew its stake in shares of Southwest Airlines by 81.4% in the second quarter. Hantz Financial Services Inc. now owns 1,056 shares of the airline’s stock valued at $34,000 after acquiring an additional 474 shares in the last quarter. Institutional investors and hedge funds own 80.82% of the company’s stock.

Southwest Airlines Trading Up 1.2%

Shares of Southwest Airlines stock opened at $41.23 on Wednesday. The stock has a market cap of $21.32 billion, a P/E ratio of 63.43, a P/E/G ratio of 0.82 and a beta of 1.17. The company has a quick ratio of 0.42, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. Southwest Airlines has a 12-month low of $23.82 and a 12-month high of $43.54. The business’s 50 day moving average is $34.47 and its 200-day moving average is $33.24.

Southwest Airlines (NYSE:LUV) last issued its earnings results on Tuesday, February 6th. The airline reported ($0.38) earnings per share for the quarter. The firm had revenue of $6.17 billion for the quarter. Southwest Airlines had a return on equity of 6.39% and a net margin of 1.38%. Equities research analysts predict that Southwest Airlines will post 1.55 earnings per share for the current fiscal year.

Southwest Airlines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Friday, December 26th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, December 26th. Southwest Airlines’s dividend payout ratio is currently 110.77%.

Southwest Airlines Company Profile

Southwest Airlines Co is a U.S.-based low-cost carrier that operates a point-to-point domestic and near-international airline network. Headquartered in Dallas, Texas, the company primarily flies Boeing 737 aircraft and offers no-frills, single-class service designed to keep fares competitive. Southwest’s operating model emphasizes high aircraft utilization, quick turnaround times and an open seating policy, allowing customers to board and select seats on a first-come, first-served basis.

Founded in 1967 by Herb Kelleher and Rollin King as Air Southwest Company, Southwest began commercial service in 1971, initially connecting Dallas, Houston and San Antonio.